REDF says more than 58,000 financing contracts signed in H1 2022

Logo of Real Estate Development Fund (REDF)

The Real Estate Development Fund (REDF) revealed that more than 58,000 financing contracts were signed during the first half of 2022. 
 

The contracts are part of the various financing and housing options related to the housing support programs implemented across various regions in the Kingdom, Saudi Press Agency reported. 
 

The fund’s CEO Mansour bin Madi said REDF provided credit facilitiesto about 33% of the total beneficiaries of the financing contracts, in accordance with the controls and procedures of the guarantees program and facilitated mortgage program. 
 

The number of beneficiaries from the guarantees program amounted to 6,000, while the number of facilitated mortgage beneficiaries exceeded 13,000 in the first half of 2022, he added. 
 

Madi also highlighted the regulatory and legislative role of the housing system and complementary partnership with financing agencies and real estate developers. Accordingly, the number of beneficiaries from the housing support programs reached more than 660,000 from June 2017 until the end of the first half of 2022.